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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) January 11, 1996
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(January 10, 1996)
WESTERN GAS RESOURCES, INC.
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(Exact name of registrant as specified in its charter)
Delaware 1-10389 84-1127613
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(State or other jurisdiction of (Commission (I.R.S Employer
incorporation) File Number) Identification No.)
12200 N. Pecos Street Denver, Colorado 80234-3439
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(Address of principal executive offices) (Zip Code)
(303) 452-5603
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(Registrant's telephone number, including area code)
No Changes
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(Former name, former address and former fiscal year, if changed since last
report).
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ITEM 5. OTHER EVENTS.
On January 11, 1996, the Company issued the following press release:
January 11, 1996. Brion G. Wise, Chairman of the Board and Chief Executive
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Officer of Western Gas Resources, Inc. ("Western") (NYSE: WGR) today announced
that Bill M. Sanderson will retire as President and Chief Operating Officer of
the Company effective March 31, 1996. Mr. Wise also announced that the Company's
Board of Directors has elected Lanny F. Outlaw, currently Executive Vice
President, to succeed Mr. Sanderson.
Mr. Sanderson, 66, joined Western in 1981 as Vice President and has been
President, Chief Operating Officer and a Director since 1987. He will remain
with Western as a member of the Board of Directors. Mr. Outlaw, 59, who has
over 36 years of experience in the oil and gas industry, will become President
and Chief Operating Officer.
Mr. Wise stated, "It is with both regret and the utmost appreciation that we
have accepted Bill Sanderson's notice of retirement. He has made an invaluable
contribution to the Company during his 15-year tenure and directed our efforts
during a tremendous period of growth. We are extremely pleased that he will
continue his service as a board member and help provide guidance and direction
to our management team.
"As for his successor, Lanny Outlaw has been a valued and respected member of
Western's management team for 9 years, and his leadership in the business
development area was instrumental in the acquisition growth of the Company. His
widely varied experience, knowledge and industry contacts have been and will
continue to be of great benefit to the Company and its operations. Lanny has
also been instrumental in the formation and implementation of the Company's
future business plan, particularly in the operations and business development
areas."
Mr. Outlaw stated, "Western has built an excellent base of assets and assembled
an experienced management team, but weak natural gas and natural gas liquids
prices and our recent financial performance have limited the Company's ability
to profitably expand its operations. The Company needs to improve its earnings
and financial structure, aggressively pursue new growth opportunities and expand
its marketing efforts. I look forward to working with Bill and Brion and the
rest of management as we execute the Company's future business plan."
Mr. Outlaw joined Western in 1987 and has held various management positions with
Western, having most recently served as Executive Vice President of Operations,
Business Development and Engineering. Prior to joining Western, he worked for
Shell Oil Company from 1958 to 1987 and held several management positions within
their Exploration and Production department. He received an Engineering degree
from the South Dakota School of Mines and Technology.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
WESTERN GAS RESOURCES, INC.
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(Registrant)
Date: January 11, 1996 By: /s/WILLIAM J. KRYSIAK
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William J. Krysiak
Vice President - Finance
(Principal Financial and
Accounting Officer)
